HR Values: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
HR Values
Largest movements
- Cash +€31,594
up €31,594 (+40.7%), from €77,702 to €109,296
mainly Net result for the year (+€58,824) and Depreciation (+€6,698)
- Tangible fixed assets -€5,581
down €5,581 (-14.3%), from €39,096 to €33,514
of which Other tangible fixed assets: -€5,480
- Reserves +€24,953
up €24,953 (+12.2%), from €204,198 to €229,151
- Tax, wage and social debts +€5,743
up €5,743 (+29.7%), from €19,366 to €25,109
- Gross operating margin +€10,730
up €10,730 (+13.2%), from €81,178 to €91,908
- Taxes +€3,366
up €3,366 (+16.7%), from €20,149 to €23,515
- Financial charges -€2,752
down €2,752 (-51.8%), from €5,309 to €2,557
- Financial income -€1,916
down €1,916 (-100%), from €1,916 to €0
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,559 | €263,205 | +€30,646 | +13.2% |
| Fixed assets | 21/28 | €39,265 | €33,623 | -€5,641 | -14.4% |
| Intangible fixed assets | 21 | €169 | €109 | -€60 | -35.5% |
| Tangible fixed assets | 22/27 | €39,096 | €33,514 | -€5,581 | -14.3% |
| Plant, machinery and equipment | 23 | €5,027 | €4,055 | -€973 | -19.3% |
| Furniture and vehicles | 24 | €352 | €1,224 | +€872 | +248% |
| Other tangible fixed assets | 26 | €33,716 | €28,236 | -€5,480 | -16.3% |
| Current assets | 29/58 | €193,295 | €229,582 | +€36,287 | +18.8% |
| Amounts receivable within one year | 40/41 | €15,592 | €17,050 | +€1,458 | +9.3% |
| Trade receivables | 40 | €15,592 | €17,041 | +€1,449 | +9.3% |
| Other amounts receivable | 41 | €0 | €9 | +€9 | |
| Current investments | 50/53 | €100,000 | €101,904 | +€1,904 | +1.9% |
| Cash at bank and in hand | 54/58 | €77,702 | €109,296 | +€31,594 | +40.7% |
| Deferred charges and accrued income | 490/1 | - | €1,332 | +€1,332 | |
| Total equity and liabilities | 10/49 | €232,559 | €263,205 | +€30,646 | +13.2% |
| Equity | 10/15 | €210,398 | €235,351 | +€24,953 | +11.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €204,198 | €229,151 | +€24,953 | +12.2% |
| Distributable reserves | 133 | €204,198 | €229,151 | +€24,953 | +12.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,161 | €27,854 | +€5,693 | +25.7% |
| Amounts payable within one year | 42/48 | €22,161 | €27,535 | +€5,374 | +24.3% |
| Trade debts | 44 | €1,733 | €2,216 | +€483 | +27.9% |
| Suppliers | 440/4 | €1,733 | €2,216 | +€483 | +27.9% |
| Taxes, remuneration and social security | 45 | €19,366 | €25,109 | +€5,743 | +29.7% |
| Taxes | 450/3 | €19,366 | €25,109 | +€5,743 | +29.7% |
| Other amounts payable | 47/48 | €1,062 | €210 | -€852 | -80.2% |
| Accrued charges and deferred income | 492/3 | - | €319 | +€319 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,478 | €6,698 | +€220 | +3.4% |
| Other operating charges | 640/8 | €1,019 | €314 | -€705 | -69.2% |
| Gross operating margin | 9900 | €81,178 | €91,908 | +€10,730 | +13.2% |
| Operating profit (loss) | 9901 | €73,681 | €84,896 | +€11,215 | +15.2% |
| Financial income | 75/76B | €1,916 | €0 | -€1,916 | -100% |
| Recurring financial income | 75 | €1,916 | €0 | -€1,916 | -100% |
| Financial charges | 65/66B | €5,309 | €2,557 | -€2,752 | -51.8% |
| Recurring financial charges | 65 | €5,309 | €2,557 | -€2,752 | -51.8% |
| Profit (loss) for the period before taxes | 9903 | €70,288 | €82,338 | +€12,051 | +17.1% |
| Income taxes | 67/77 | €20,149 | €23,515 | +€3,366 | +16.7% |
| Profit (loss) for the period | 9904 | €50,139 | €58,824 | +€8,685 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,139 | €58,824 | +€8,685 | +17.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.